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<br />88- 104581
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<br />If Lender required mOrlgngc insunmce as n condition of making the loan secured by this Security Instrument,
<br />Borrower shall pay the premiums required to maintain the insurance in effect umil such time as the requirement for the
<br />~nsurnnce terminates in accordance with Borrower's and Lender's written agreement or applicable law.
<br />8. Inspection. Lender or its agent may make reasonable entries upon and inspections of the Prcperty. lender
<br />shall give Borrower notice at the time of or prior to nn inspection specifying reasonable cause for the inspection.
<br />9. Condemnation. The proceeds of any award or claim for damages, direct or consequential. in connection with
<br />any condemnation or other taking of any pan of the Property. or for conveyance in lieu of condemnation, ure hereby
<br />assigned and shall be paid to Lendcr,
<br />In the cvent of a total taking of the Propcrty. the proceeds ,hall be applied to the sums secured by Ihis Securily
<br />Instrument. whether or not then due. with any excess paid 10 Borrower. In the even1 of a partial taking of the Property,
<br />unless Borrower and lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by
<br />thc amount of the proceed, multiplied by the following fraction: (a) the total amount of thc ,ums sccured immediately
<br />before the taking, divided by (b) the fair market value ofthc Property immediately befarc thc taking, Any balance ,hall be
<br />paid to Borrower.
<br />If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor offers to
<br />make an award or settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date the notice is
<br />given, Lender is authorized to collect and apply the proceeds, at its option, either to restoration or repair of the Property or
<br />to the sums secured by this Security Instrument, whether or not then due.
<br />Unless Lender and Borrower otherwise agree in writing. any application of proceeds to principal shall not extend or
<br />postpone the due date of the monthly payments referred to in pdfagraphs 1 and 2 or change the amount of such payments.
<br />10. Borrower Nol Released; ForbeJlrance By Lendcr Not a Waiver. Extension of the time for payment or
<br />modification of amortization of the sums secured by this Security Instrument granted by Lender 10 any successor in
<br />interest of Borrower shan not operate to release the liability of 1 he original Borrower or Borrower's successors in interest.
<br />Lender shaJl not be requlred to commence proceedings against any succclisor in interest or refuse to extend time for
<br />payment or otherwise modify amortization oflhe sums secured by thiS St..~urity Instrument by reason of any demand made
<br />by the arigina) Borrower or Borrower's successors in interest. Any forbearance by Len\.Jer in e,.;crcising any right or remedy
<br />shall not be a waiver afar preclude the exercise orany right or remedy.
<br />11. Suceessors and Assigns Bound; Joint and Several Liability; Co-siKners, The covenants and agrcements of
<br />this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the provisions
<br />of paragraph 17. Borrower's covenants and agreements shall be joint and several. Any Borrower who co~signs Ihis Security
<br />Instrument but does not execute the Note: (n) is co-signing this Security Instrument only to mortgage. grant and convey
<br />that Borrower's interest in the Property under the terms of thiS Secunty Instrumcnt: (b) is not personally obligated to pay
<br />the sums secured by this Security instrument; and (c) agrees that lender and any other Borrower may agree to extend,
<br />modify, forbear or make any accommodations with regard to the tenns of this Security Instrument or the Note without
<br />that Borrower's consent.
<br />12. Loan Charges. If the loan secured by this Security Instrument is suhject to a law which sets maximum loan
<br />charges, IInd that law is finally interpreted so that the interest or other loan charges collected or to be collected in
<br />connection with the loan exceed the permitted limits, then: (a) allY such loan charge ...hall he reduced by thC' amount
<br />necessary to reducc the charge to the pcrmilled limn; and (b) an}' sums already collccted rmm Borrowcr which cxceeded
<br />pennitted limits will be refunded to Borrower. Lender may chouse 10 make this refund by reducing the principal owed
<br />under the Note or by making a direct paymen110 Borrower. If u refund reduces pnnclpal, the reductlOlI will be treated as a
<br />partial prepaymcnt wllhaut any prepayment charge under thc Note.
<br />13, l.egislation AffectinR Lender's RiKhts, If enactment or expiration of apphc..lble law!-o has the elfcel or
<br />rendenng any provision of the Note ur this Security Instrument unenftlfccable acc(lrdlng t() II... terms, Lender, at its option.
<br />may require: immediate payment in full of all sum!-o secured hy Ihls Secunty [nstrumenl and may 1II\'oke any remedies
<br />permitted by paragraph 19. If Lender exercIses this option, Lender shall lake the ...tcp!-o specified In the second paragraph of
<br />paragraph 17,
<br />14. Notices, Any noUce to Borrower pro\llded for IIIlhl' Sccunty Instrument ,hall he given hy delivering II or hy
<br />mailing it by first class mllll unJess applicable law requm:!I use (If another method. The nntll.:e ...hall be din..-ctcd to the
<br />Property Address or any other address Borrower designates by notll.:e 10 Lender. Any TlntiL:c to Lender shall be given by
<br />first clas!; mail to lender\ addr~ staled herein or any other addres!l Lender designatt.'s by nol1ce to Borrower. Any nOlice
<br />prm'ided for 111 thi~ Security Instrument shall be deemed III have been given to Borrower or Lender when given a~ provided
<br />in thiS paragraph
<br />IS, Gonrning Law; Seyerabilit)" This Security Instrument shall he governed by rederallaw and the law of the
<br />Jurisdiction in which the Property is located, In the e\'enl 1hat any proVISIOn or clause of 11m, Securny In"itrument or the
<br />Note connlcts with applicable law, such conflict shall not afft."Ct other pT<lVlSlOn!-o of thiS Security Instrument or the Note
<br />which can be given effect without the conflicting provision. To thiS end the pn)\'i~illn~ ofthl'" Sec.'urny Instrument and the
<br />Note are declared to he severable.
<br />16. Borrower's Copy, Borrower shall be givcn one conformed copy of Ihc Note and of lhls Securny Inslrument.
<br />11. Transrer of the Property or a Benefit'iallnteresc in Borrower. If all or an}' part of the Property or any
<br />interesl in it i!:r sold or transferred (or if a beneficiallOterest1l1 Borrower IS !ooold or tTi.H1sfcrred and Borrower I~ not if natural
<br />person) without Lender's pnor wntten consent, Lender may, allt~ option, re4ulre Immediate payment m full of all sums
<br />secured by thiS Security Instrument. However, thi!; option shall not be e:r.ercl!Ocd hy lender if exercise IS prohlhlted hy
<br />federal law ~ of the date of this Security Instrument
<br />If Lender exercisC!lo this optinn. lender !;,hall gJve Borrower notice of acccleratHJn. The notice shall prm'lde jJ pcrlt)d
<br />of not les'!o than 30 day~ from the datc the noUce l!-o delivered or mailed wllh1l1 whIch Borrower mu\t p<JY all '-urns ~ecun."(1 h~
<br />thl!. Security Instrument. If Borrower fUll.!!. 10 puy these \um~ pnur to the explratlnn of thl.... peTlod. Lender ma~ Illvokc lIny
<br />remedies pennined by this Security Instrument withoU1 further notice or demand on Borrower
<br />J8, Borrower's Right to Reinstate. If Borrower meets certain conditwns. Borrower ..hall have Ihe fl~ht 10 have
<br />enforcement of this Security Ins1rumenl dlsconlll1ued al any lime prior tn lhe earlier nf (n) ~ da~''''' (or such other penod a..
<br />apphcable law ma)" ~pecir'y for rein'lotalement) hefore "iule of the Property pur..uunt III Llny rower I1f ..ale cnnt;uucu In thl"
<br />Security Instrument; or {bl entry of a Judgment enforcing thl, SCI.'unty (n....trument Thll..c condition, i.lft.' Ihat BllffO\\l'r
<br />(a) pay!. Lender all sums which Ihen would be duc under Ihl... Secunty In'lrument alld the !"\Olc had 1111 Ih.Tc:lcratltlll
<br />occurrt"d; (b) L-urc!oo any default o[ all) othcr (O\enants or agrcemcnl'. kl ray... all C.\pClhC'" InI.'urreJ 1T1 enftlfl.:lIllZ 1111"
<br />St-cunt) In<;,trument, mdudms. but not hmned 10, Tcasonablr IIllOrTle~'..' fe~. J.nd (dJ take... ...1I1..'h actIon a.. Il"ndt~1 rna~
<br />reasonably require In 3s...ure thaI the hen or thIS Sct.:unty In...trumcn!. Il"ndcr'.. flghl'" In lhe: I'wPI"I!' alld H,lf!II\H.I....
<br />nhhgatlon In p<J) Ihe ..urn.. ..ecured by thl~ SC(..'Uflty In...lrument ..hall 1.'lll1llfllH' ulll..hiln~!t'd l r'lll H'llhl.lh"lIll"lll h\
<br />Ilorrnv,t:'r. 11ll.. "\ccunl~ In..lrumcnl and Ihe t1hhgatltlll" \cl-ured IH,'n"O\ ..hali rrrnillrt 11111\ ('Ill'llt\c ,I' It 11" .11 ",11'1,1(11111 11.111
<br />l.....l,:uTrC'd Ilpv,C'\C'r, ,hi", f1~hl (II rcm..lilfl~ "lmll nol appl~ IlIlhr- I. a"e nf "I. d.' In alII HI under 1'.11 ,1~!.If'h... 1 : ,,, I ~
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